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IMPROVEMENTS ARE NEEDED IN OFFSHORE VOLUNTARY DISCLOSURE COMPLIANCE AND PROCESSING EFFORTS

August 17, 2016

See this report: https://www.treasury.gov/tigta/auditreports/2016reports/201630030fr.pdf of findings of the TIGTA audit that was initiated to assess how well the IRS is managing the OVDP and its efforts to improve taxpayer compliance and hold taxpayers who fail to report their offshore financial activities on their tax returns and Reports of Foreign Bank and Financial Accounts (FBAR) accountable.

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